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IFC Helps Improve Healthcare in Moldova with Precedent-Setting Deal

Chisinau, Moldova, December 7, 2011— IFC, a member of the World Bank Group, has helped facilitate a groundbreaking partnership that is expected to improve hospital services in Moldova and pave the way for future investments in the country’s healthcare sector.
IFC advised Moldovan officials on a recently-signed agreement with private healthcare provider Magnific SRL. The company will provide radiology and diagnostic imaging services at Chisinau’s IMSP Republican Hospital. This is the first public-private partnership project in Moldova and will benefit 100,000 patients annually.
“Public-private partnerships have emerged as way to increase the efficiency of the country’s healthcare sector,” said Dr. Andrei Usatii, Moldova’s Minister of Health. “The availability of technically-advanced diagnostic equipment is essential for ensuring timely diagnosis and contributes to the reduction of total care costs and enhances health service quality.”
Magnific SRL will invest $7 million in capital improvements and modern radiology and imaging equipment, including a C.T. scan, MRI technology, digital fluoroscopy, and digital and mobile X-ray machines. The company will hire on employees who are currently working in the hospital’s radiology section. It has also agreed to return to the hospital five percent of its annual revenues from referred patients.
"This agreement represents an important step in improving healthcare for Moldovan citizens and paves the way for new public-private partnership projects in the country,” said Georgi Petrov, IFC Public-Private Partnerships Business Line Leader in Europe and Central Asia.
The initiative is part of IFC Advisory Services’ Public-Private Partnership program, which counsels governments on ways to engage the private sector in the provision of essential services. The program’s goal is to support economic development by expanding access to power, water, healthcare, and sanitation services.
The IMSP Republican Hospital project was implemented with financial support from the Ministry of Foreign Affairs of the Netherlands.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit .
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